Entra Asa (ENTOF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning all and welcome to ENFRA's third quarter presentation. Let me start by letting you know what you can see on this picture here. This is our building in Nonnesetegaten 4, where we currently have an ongoing project. As you can see, it's located spot on the central train station in Bergen and also with the metro next to it. If we move on to the highlights in the quarter, rental income of $767 million this quarter, which is $3 million with the same quarter last year. Net income from property management of $328 million, which is up then by $10 million from last year. And fairly limited net value changes this quarter with minus $11 million. Profit before tax of 326 million in the quarter. Our net asset value increased with 1 kroner per share, 267. And happy to once again see that we have a positive net letting this quarter with 10 million. Our board has decided to resume the semi-annual dividends and at the same time also revised our dividend policy. Since the IPO, we have had dividend policy to distribute around 60% of cash earnings as cash dividend. Dividends were suspended in 2023 and 2024 to strengthen our balance sheet in a challenging market environment. With an improved financial position and also seeing that the market is showing clear signs of stabilizing, we are now resuming our semi-annual dividend. The board has also revised the dividend policy from distributing around 60% of cash earnings as cash dividend to now at least 30% as semi-annual capital distributions either through cash dividend or share buybacks. The revised dividend policy provides financial flexibility, allowing more room for accretive investments and share buybacks as well as dividends, depending on what provides the best shareholder values at any given point in time. As we are trans...